E-mail, Feeds, 'n' Stuff

Wednesday, October 17, 2012

Your tax quiz of the day

The O's tally of how much of her own money Nurse Amanda is spending to get re-elected to the Portland City Council just got revised from $250,000 to $300,000. Three hundred thousand Simoleons! Man, that ain't hay.

Here's a query for you tax types out there: How much of it will she get to write off on her and her husband's income tax return?

Since she is running for re-election she might qualify to deduct expenses associated with job-seeking (because each term is new employment in the same line of work). This would let her write off her business miles (which were likely inkinded to the campaign).

Jobseeking deductions can include resume expenses, but I doubt that tens of thousands worth of campaign literature would be covered.

I wouldn't be so sure. Can't she say that she's spending the money to maintain her current employment? Could be a deductible business expense -- probably "miscellaneous," though, which spells doom for the deduction under the ghastly alternative minimum tax. It's not clear to me whether she and her husband are in AMT land or not.

Under the regular income tax, "miscellaneous" deductions are subject to a "floor" of 2% of adjusted gross income, but $300,000 would exceed that unless they hit the lottery.

Road Work

Miles run year to date: 66
At this date last year: 144
Total run in 2016: 155
In 2015: 271
In 2014: 401
In 2013: 257
In 2012: 129
In 2011: 113
In 2010: 125
In 2009: 67
In 2008: 28
In 2007: 113
In 2006: 100
In 2005: 149
In 2004: 204
In 2003: 269